Tuesday, January 13, 2015

Oil slumps 5 percent after Goldman slashes price forecast to $40 per Barrel

NEW YORK (Reuters) - Oil slumped 5 percent to near six-year lows on Monday, accelerating its months-long rout after Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no signs of curbing output.
Brent was down $2.34 to $47.78 a barrel by 11:47 a.m. EST (1637 GMT), after dropping as low as $47.18 to its lowest since April 2009.
U.S. crude oil was down $1.98 at $46.38 after earlier hitting a low of $45.90, also near six-year low. (more)

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